New Delhi: In the maiden debut on Monday, Jio Financial Services (JFS) shares dropped 5% touching the lower circuit during the intra-day trade on the stock market indices. Earlier, JFS shares debuted at the premium value of Rs 262 per equity against the prescribed value of Rs 261 per equity. However, it has dropped to Rs 248 per equity.
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Jio Financial Services (JFS) demerged from Reliance Industries (RIL) with the aim to separate the financial segment of the company from other assortments. The company offered the shares to its shareholders until July 30 in a ratio of 1:1, meaning every shareholder of Reliance received 1 JSF share.
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Jio Financial Services has become the newest and second largest non-banking financial company (NBFC) in relation to market capitalization.
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Meanwhile, Reliance industries shares peg around Rs 2533 per equity during the intra-day trade on Monday. It has seen a drop of 1% to Rs 23.15 today, the first time when it demerged from Jio Financial Service (JFS).
